Low Voc Emissions By Powder Coatings To Fuel The Powder Coatings Market Growth

Global Powder Coatings Market: Key Highlights

• According to the new market research report “Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), by Coating Method (Electrostatic Spray, Fluidized Bed Spray), by End-use Industries (Automotive & Transportation, Consumer Goods & Appliances, Electrical & Electronics), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America,) – Global Forecast (2019 to 2027)”, the global powder coatings market is projected to reach a value of USD 19 billion, registering a CAGR of more than 5% during the review period
• Powder coatings exhibit 15% of the total industrial finishing market, as per the Powder Coating Institute
• It has superior properties such as enhanced durability, exceptional chip and abrasion resistance, and cost-efficiency
• It is available in a vast range of colors and textures and can be used in a variety of substrates
• Fluctuations in prices of resins used in powder coatings remains a major restraint

Global Powder Coatings Market: Key Market Dynamics

• Stringent regulations in line with the reduction of VOC emissions is a primary driver of the global powder coatings market
• Demand from major end-use industries due to its durability, scratch and corrosion resistance, faster cure rates, lower cure temperatures, and improved appearance is also fueling the market growth
• Over-sprayed powder coating can be retrieved and recycled for use, thereby reducing cost
• Technological advancements in coatings technology such as Nano-TiO2 photocatalyst coatings and green coatings to provide growth avenues to the market
• Formation of thinner coating layers is a major challenge in this market

Global Powder Coatings Market: Regional Overview

• Asia-Pacific

Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding automotive industry. According to the International Organization of Motor Vehicle Manufacturers, India, Indonesia, Thailand, and Malaysia witnessed a positive percentage growth in the automotive industry of 8%, 10.3%, 9%, and 12.2%, respectively.  

• North America

The market in North America is expected to witness high demand for powder coatings owing to the pertaining stringent regulations by the US Environmental Protection Agency. Moreover, the presence of a large industrial base in the region further propels the demand for powder coatings. The automotive production in the US stood at 11 million in 2018.

Global Powder Coatings Market: Key Players Overview

• Akzo Nobel N.V.:

Akzo Nobel N.V. is a global paints & coatings, chemicals, and healthcare products company and has operations in more than 150 countries. It offers polymers, pulp and paper chemicals, surfactants, decorative and industrial coatings, oral contraceptives and antidepressants, veterinary vaccines, and pharmaceutical raw materials.  In July 2019, the company announced plans to invest in its Changzhou powder coatings plant, located in China.

• Axalta:

Axalta is engaged in the development, manufacturing, marketing, and selling of liquid and powder coatings. In September 2019, the company entered in definitive agreement to acquire Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer specializing in architectural powder coatings.

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